1. reimbursement is PROHIBITED if she was held liable to the corporation Show 2. corp MUST reimburse director or officer if she won a judgment on the merits or otherwise 3. corp MAY reimburse director or officer in any other case (i.e. settlement) where she acted: 4. Notwithstanding the categories above, the court (in which the officer or director was sued) MAY order the corporation to reimburse her for litigation expenses and attorney's fees IF: Recommended textbook solutions Social Psychology10th EditionElliot Aronson, Robin M. Akert, Samuel R. Sommers, Timothy D. Wilson 525 solutions
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Terms in this set (35)From the perspective of the public, the primary job of the board of directors is To closely monitor the actions of management The relationship among the board of directors, top management, and shareholders is referred corporate governance The requirements of a board of directors vary significantly by country and by state; however, becoming directly involved in managerial decisions 4) Which of the following statements is not true regarding the board of directors? more than half of all publicly traded companies in the united state are incorporated in New York, Requiring that the corporation be managed in accordance with NY state laws. More than ________ of outside directors surveyed said that they had been named as part of a lawsuit against the corporation. 40% A
careless director or directors can be held personally liable for harm done to the corporation due care Which of the following is not a task of the board of directors in strategic management? to implement catalyst- level boards of directors typically take leading roles in establishing and modifying the company mission, objectives, and strategy a highly involved board does all of the following EXCEPT Manage the everyday operations of the organization. 10) The ________ boards typically never initiate or determine strategy unless a crisis occurs. Rubber Stamp
11) According to the text, most publicly owned large corporations today tend to have boards with nominal to active What percentage of public corporations have periodic board meetings devoted primarily to 74% 13)
When a board of directors is involved to a limited degree in the performance or review of Nominal participation The board of directors has an obligation to approve all decisions that might affect the long-run performance of the corporation. TRUE 15) The term "corporate governance" refers to the relationship among the board of directors, top true 16) The more active professional boards are being replaced by the board as a rubber stamp of the FALSE 17) Succession planning for the board and top management team is one of the five true Those directors who fail to act with due care and allow the corporation to be harmed may be held personally liable true A 2011 McKinsey and Company survey found that less than
ten percent of a board's time is False The lowest degree of involvement for a board of directors is the catalyst level of interaction. FALSE Generally, the smaller the corporation, the less active is its board of directors. TRUE
Outside directors are defined as individuals on the board who are not employed by the board's corporation. According to ________ theory, ________ directors tend to identify with the corporation and Stewardship; inside Surveys of large U.S. and Canadian corporations found outsiders make up what
percentage 80% The percentage of directors of small, publicly held U.S. corporations who are outsiders is approximately 20-40% The theory which states that problems arise in corporations because top management no agency theory 29) Research reveals that the likelihood of a firm engaging in illegal behavior or being sued with the addition of outsiders on the board. The average board member of a U.S. Fortune 500 firm serves on ________ board(s). 3 Board members who are not employed by the corporation, but handle the legal or insurance needs of the firm and are thus not true "outsiders," are what kind of directors? affliliated directors Sixty-six percent of the outstanding stock in the largest U.S. and UK corporations is now owned by institutional investors 33) ________ theory argues that senior executives over time tend to view the corporation as an extension of themselves. stewardship An agency problem can occur when The desires and objectives of the owners and agents conflict Which of the following regions is the most globalized region of the world in terms
of boards europe Korn/Ferry International reported that amongst the 100 largest companies listed in 2011 96% A study by Korn/Ferry found that ________ of U.S. boards of directors had
at least one 78% Students also viewedChapter 5 Terms- World History33 terms SynxKim034PLUS Un Viaje28 terms CAMERAN_BANGURA CHAPTER 8 MINERALS & ROCK (SCOTT FORESMAN SCIENCE…23 terms pamela_torregosaPLUS Gallopade Chapter 3 Vocabulary8 terms Melvinya_McGee Sets found in the same folderChapter 377 terms tran112 493 ch.260 terms shelbybreedlove AIS Examlet 3191 terms Wally_D AIS Exam 1 Study Guide146 terms glase084 Other sets by this creatorChapter 735 terms s123fl5653 Chapter 462 terms s123fl5653 chapter 345 terms s123fl5653 Chapter 128 terms s123fl5653 Recommended textbook solutionsInformation Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Information Technology Project Management: Providing Measurable Organizational Value5th EditionJack T. Marchewka 346 solutions Operations Management: Sustainability and Supply Chain Management12th EditionBarry Render, Chuck Munson, Jay Heizer 1,698 solutions
Operations Management: Sustainability and Supply Chain Management12th EditionBarry Render, Chuck Munson, Jay Heizer 1,698 solutions Other Quizlet setsEcosystem Ecology Fall 2022 EXAM 236 terms Stephanie_J_Robinson 1200 Week 5 EAQ84 terms emarflak0 MGT 364 Exam 290 terms Epo4PLUS From My Life With the Chimpanzees-comprehension re…14 terms Meghan_Melton6 What are the responsibilities of the board of directors of a corporation?Chosen by shareholders, the primary job of a public company's board of directors is to look out for the shareholders' interests. In fact, directors are legally required to put shareholders' interests ahead of their own. The board plays a supervisory role, overseeing corporate activities and assessing performance.
What are the responsibilities of the board of directors quizlet?Terms in this set (6). Establishing, clarifying, and modifying purpose of agency.. Planning formal organization structure.. Obtaining necessary facilities, staff, and material resources.. Policy making (primary duty).. Hiring the director and determining his/her duties, salary, etc.. What are the three primary functions of a board of directors?Just as for any corporation, the board of directors of a nonprofit has three primary legal duties known as the “duty of care,” “duty of loyalty,” and “duty of obedience.”
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What are the responsibilities of the board of directors in a corporation quizlet?
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